The Hindu Business Line : Tuesday, September 27, 2005

BoB merges 3 RRBs in Gujarat
MUMBAI: Bank of Baroda has amalgamated its three sponsored regional rural banks (RRBs) into single RRB, called Baroda Gujarat Gramin Bank. It will have 128 branches and will operate in nine districts in Gujarat, said a press release ... More

INSIGHT

Why developing countries court dollar assets
In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh consider the nature of developing country capital flows and analyse why investing in US dollar assets has become such a favoured channel for financial resources t hat could be used instead to increase economic growth in the developing world. More

FOREX

Rupee weakens; bond prices fall
MUMBAI: The rupee weakened against the US currency on Monday on month-demand for dollars. The local currency opened at 43.94/95 and crept up to 43.9350. It, however, closed at 43.96, lower than Friday's close at 43.90/91. Import ... More

INSURANCE

Insurers get aggressive with tech adoption
The IT spend of the insurance sector which is less automated in comparison to banking is estimated at Rs 100 crore per annum. More

NBFCS

Discretionary investment cap — Peerless pitches for review by RBI
PEERLESS General Finance & Investment Co has made a fresh case for the review of limits under discretionary investments by Reserve Bank of India. The residuary non-banking company's worries stem from a measured removal of investments under the .. More

GENERAL INSURANCE

Cashew growers in pact with insurers for `transit' cover
THE Karnataka Cashew Manufacturers Association (KCMA) has signed a memorandum of understanding (MoU) with Bajaj Allianz General Insurance Company Ltd and Oriental Insurance Company to underwrite marine cover for the cashew industry. Under the ... More

PUBLIC SECTOR BANKS

SBT to raise Rs 235 cr as Tier II capital
STATE Bank of Travancore (SBT) is planning to raise Rs 235 crore to augment its Tier II capital. The bank has informed the Bombay Stock Exchange that the Executive Committee of the board of directors has approved the issue of bonds to raise the ... More

CREDIT MARKET

UBI opens 2 retail marts at Khairatabad and Jubilee Hills
HYDERABAD: Union Bank of India (UBI) has announced the opening of two retail marts at Khairatabad and Jubilee Hills here on Monday for focussed lending to individuals under various retail schemes. In a press release, the bank's General ... More

CREDIT CARDS & DEBIT CARDS

Globus, ICICI Bank in talks for co-branded card
THE Rajan Raheja Group-promoted retailing company, Globus Stores Pvt Ltd, is negotiating with ICICI Bank for a co-branded card. Considering most of the branded retailers have already tied up with separate banks for retail store cards, Globus ... More

MERGERS & ACQUISITIONS

RBI okays merger of Centurion, Bank of Punjab
THE Reserve Bank of India today approved the merger of Centurion Bank and Bank of Punjab, effective from October 1, 2005. The combined bank is proposed to be called Centurion Bank of Punjab, said a press release from the bank. The boards of ... More

PNB keen on overseas acquisition
THE overseas acquisition bug seems to have bitten Indian public sector banks. After State Bank of India's recent overseas acquisition drive, it could now be the turn of Punjab National Bank to look beyond the borders to create a larger presence ... More

INTERVIEW

`Factoring has huge growth potential'
FACTORING business in the country has been slow to take off. Even while the service providers in this space continue to register an average year-on-year growth of over 20 per cent, they do not foresee a good jump in business volumes until the ... More

SECURITY

Net banking? Use dynamic keyboard
NET BANKING facilities offered by most banks require you to key in your user id or account number and then sign in by entering the personal identification number (PIN). Keying in the PIN is a security risk. Someone, in some distant place, with ... More

EVENTS

Karnataka Bank hosts meet on `inspection & audit'
A TWO-day seminar on `Inspection and audit' for the officials of Karnataka Bank Ltd began here on Monday. Mr Anantakrishna, Chairman and Chief Executive Officer, who inaugurated the seminar, urged the officials of the Inspection Department to ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line